Longbow Capital has launched a venture capital trust (VCT) to invest in the cosmetic, personal care and lifestyle product markets.

Longbow Capital has launched a venture capital trust (VCT) to invest in the cosmetic, personal care and lifestyle product markets.

The Longbow Growth and Income VCT aims to raise £10 million. This will be invested in between 15 and 30 unquoted companies which make products that can be distributed through Longbow’s link to the high street chain Boots, the firm said in a statement.

Longbow is a founding partner of the Boots Centre for Innovation, an innovation hub based in Swansea, Wales, which works with early-stage companies and inventors to develop products for the retailer.

Sir Nigel Rudd, Longbow’s chairman, says the VCT will invest in the cosmetic and personal care markets, which are two of the fastest growing areas of consumer spending.

He adds, ‘People are increasingly prepared to spend more to make the most of their looks and wellbeing. This is a very exciting area on which to be focussing our venture capital activities and in which to be creating true partnerships between small emerging companies and larger national and global healthcare companies.’